UKRAINE: 13 insurers left the market in January-September2018

According to the National financial services committee of Ukraine, in order to remove unreliable players from the financial market, 126 organizations, including 13 insurance companies, were removed during January-September, as the member of the Committee, Aleksander ZALETOV informed.

However, against the reduction of the financial non-banking organizations, capitalization of the market significantly increased. As of the end of September assets and equity of nonbanking market participants exceeded UAH 187.4 billion and UAH 57.5 billion accordingly. Assets of insurers during the mentioned period went up by UAH 2.7 billion (+4.7% y-o-y), insurance reserves increased by UAH 3 billion (+13.8%).

Retail and corporate insurance in January-September 2018 demonstrated strong growth. GWP from individuals went up by 20.5% y-o-y, and GWP from legal entities - by 5.9%. Paid claims to individuals also increased - by 20.2%, and to legal entities - by 16.3%, Foinsurer wrote.

*EUR 1 = UAH 33.1287 (30.09.2018)

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